Marine Products (NYSE:MPX) Stock Rating Upgraded by StockNews.com

Marine Products (NYSE:MPX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Marine Products Stock Up 0.5 %

MPX traded up $0.05 during mid-day trading on Thursday, reaching $9.68. 29,038 shares of the company traded hands, compared to its average volume of 47,826. The company’s fifty day moving average price is $9.72 and its 200-day moving average price is $9.75. The stock has a market capitalization of $336.02 million, a P/E ratio of 18.26 and a beta of 1.22. Marine Products has a 52-week low of $8.86 and a 52-week high of $12.47.

Marine Products (NYSE:MPX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $49.85 million during the quarter. Marine Products had a return on equity of 13.55% and a net margin of 7.32%. During the same quarter last year, the company posted $0.30 EPS. As a group, sell-side analysts forecast that Marine Products will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marine Products

A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its position in Marine Products by 21,775.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,625 shares of the company’s stock valued at $27,000 after purchasing an additional 2,613 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Marine Products by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 650,433 shares of the company’s stock worth $6,569,000 after buying an additional 9,680 shares during the period. FMR LLC lifted its position in shares of Marine Products by 198.2% during the 3rd quarter. FMR LLC now owns 8,353 shares of the company’s stock valued at $81,000 after buying an additional 5,552 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Marine Products by 661.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,526 shares of the company’s stock valued at $199,000 after acquiring an additional 17,831 shares during the period. Finally, De Lisle Partners LLP increased its holdings in Marine Products by 44.8% in the 3rd quarter. De Lisle Partners LLP now owns 297,992 shares of the company’s stock worth $2,901,000 after acquiring an additional 92,181 shares in the last quarter. Institutional investors own 13.86% of the company’s stock.

About Marine Products

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing boat markets worldwide. The company offers Chaparral sterndrive pleasure boats, including SSi Sport Boats, SSX Sport Boats, and the Surf Series; Chaparral outboard pleasure boats, which include OSX Luxury Sportboats and SSi outboard models; and Robalo outboard sport fishing boats.